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Please find the atttached trial balance of Zeltz Corporation at
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Please find the atttached trial balance of Zeltz Corporation at December 31.


The trial balance of Zeitz Corporation at December 31, 2014, follows:

 

Debits

 

Cash

 


 

$365,000

 


 

Sales revenue

 

FV-NI investments (at fair value)

 

Cost of goods sold

 


 

Credits

 


 

$11,143,000

 

213,000

 

6,600,000

 


 

Bond investment at amortized cost

 


 

489,000

 


 

FV?OCI investments (fair value

 

$455,000)

 


 

382,000

 


 

Notes payable (due in six months)

 


 

100,000

 


 

Accounts payable

 


 

645,000

 


 

Selling expenses

 


 

3,060,000

 


 

Unrealized gain or loss (on investments)

 

Land

 

Buildings

 


 

65,000

 

310,000

 

2,540,000

 


 

Commission payable

 


 

166,000

 


 

Accrued liabilities

 


 

111,000

 


 

Accounts receivable

 


 

625,000

 


 

Accumulated depreciation?buildings

 


 

162,000

 


 

Allowance for doubtful accounts

 

Administrative expenses

 


 

29,000

 

1,100,000

 


 

Interest expense

 


 

261,000

 


 

Inventory

 


 

727,000

 


 

Unusual gain

 

Correction of prior years error

 


 

240,000

 

280,000

 


 

Notes payable (due in five years)

 

Equipment

 

Bonds payable

 

Accumulated depreciation?equipment

 


 

1,100,000

 

640,000

 

1,500,000

 

77,000

 


 

Intangible assets?franchises

 


 

220,000

 


 

Common shares

 

Intangible assets?patents

 


 

869,000

 

375,000

 


 

Retained earnings

 


 

1,890,000

 


 

Accumulated other comprehensive income

 

Totals

 


 

90,000

 

$18,187,000

 


 

$18,187,000

 


 

(a) Prepare a classified statement of financial position as at December 31, 2014. Ignore income

 

taxes. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of

 

Land, Buildings and Equipment.)

 


 

 







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